In-depth Review of Prominent DeFi Analytical Tool ‘Defi.watch’

Flare partners with Ola Finance to support customized lending networks, further expanding the suite of DeFi products available on Flare.

Introduction

As a relatively new model, DeFi might prove to be a challenge for beginners, as well as experts who want to benefit from all of the available options. This led to the development of a comprehensive analysis tool that could be used by any prospective investors interested in learning about the new concept. Defi.watch gathers pricing from the whole DeFi ecosystem, and users will get all the information they need in one place.

Decentralized finance is the focus of Defi.watch, an analytic tool for the crypto sector. Digital assets are put to better utilization with Defi.watch as it offers more than 30 decentralized exchanges and over 10k pools with regular updates and real-time information to investors who want to invest in cryptocurrencies and make passive income from the comfort of their homes. The platform was tracking assets worth over $327 million as of the middle of January 2022.

User Interface and Offerings

More than 30 decentralized exchanges and over 10,000 liquidity pools may be searched and tracked using this platform. All of these metrics, as well as the APR and a bar graph showing how it has changed over the last seven days, are available for users to filter through on their dashboards in any way they see fit. In other words, everything is always up to date and custom fit.

Defi.watch’s portfolio tracker is one of its most distinctive features. Users may link Metamask wallets to the protocol’s website and monitor the status of their whole portfolio. The main menu includes incentives, present value, rate of return/loss on the Investments section, and there is also an Assets tab with balance, price, value, and gain/loss (PnL). In addition, Annual Percentage Rate (APR), token information, pool volume, and liquidity – all can be found on the Pool Information tab for each investment position. The Summary tab is an overview of Cash/HODL.

Additionally, as per the team, all of the services would be offered to consumers at no cost. Users can even opt to get daily updates to their portfolios through a Telegram bot connected to Metamask. Investment gains and losses, as well as the overall worth of the assets, are included in these updates.

Aside from that, the project recently announced the introduction of its unique new services, such as information on liquidity pools and portfolio management, which it stated also would be completely free of charge for users. Over ten blockchains, including Ethereum, Harmony, and the Binance Smart Chain, are presently tracked by the DeFi-focused platform for investors. Additionally, Layer-2 apps like Optimism and Arbitrum and layer-1 applications with significant throughputs like Avalanche are tapped into by Defi.watch.

Unique Features?

Defi Watch stands out from its competition because of its extensive product line. Users may see and navigate their portfolios upon logging into the site with a compatible wallet like MetaMask.

Each protocol’s total value locked (TVL)–representing all investment–is shown here, along with a comprehensive graph that updates in real-time and displays the user’s profit/loss, fee/reward accruals, and any temporary losses (IL).

Users may also see liquidity pool information and can filter between chains and projects from the portfolio directly.

It is also possible to quickly get started with the web3-based platform by utilizing a browser wallet like MetaMask, which allows for interoperability, particularly when switching networks to access appropriate liquidity pools and other features.

Interestingly, bots will be programmed to evaluate pools and deliver an investment portfolio based on the investor’s specifications and Telegram updates through a functioning bot linked to the MetaMask platform.

Pros

  • Completely free
  • Merged data from multiple DeFi exchanges on a single page
  • 30+ Decentralized Exchanges available for search and track
  • Real-time exchange activities can be seen in real-time.
  • 10000+ Liquidity Pools to analyze and compare
  • 327M of Investor liquidity already tracked with its portfolio
  • Using smart filters, narrow down available positions out of millions.
  • The most user-friendly interface
  • Get crypto analysis, news, and updates through chat apps.
  • Each DeFi position has its own detailed breakdown.
  • Telegram Bots

Cons

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Conclusion

A simple-to-use platform with returns above-rate APYs is what the development team is aiming for so that they may immediately join the rapidly expanding DeFi sector. When inflation destroys portfolios in the United States and savings accounts guarantee less than 1% APY, alternatives should be considered. In order to keep up with the quick changes in the market, each cryptocurrency investor has a unique strategy and portfolio; thus, investors need to have excellent DeFi research tools to provide them with real-time insights about their assets and gain maximum ROI.

A devoted content writer having 3 years of crypto trading experience. Loves cooking and swimming. Stays up to date with the latest developments on blockchain technology.